In the latest edition of Ahead of the Curve, Silvia Dall’Angelo, Senior Economist, provides a macroeconomic update and delves into three themes: inflationary concerns, notable divergences between advanced and emerging economies and where we stand on building back better from the Covid-19 pandemic.
The global economy is bouncing back quickly from a sharp collapse in the first half of last year. What we are seeing now, therefore, is to some extent the mirror image of developments in 2020.
Despite having increased somewhat over the last year, long-term inflation expectations are still low by historical standards.
The growing bifurcation between emerging and developed markets is a source of fragility for the recovery.
Fiscal measures targeting longer-term issues have been more elusive and there is therefore a risk of going back to a pre-Covid-19 macroeconomic scenario.
Silvia joined the international business of Federated Hermes in October 2017. As an experienced global economist, she is responsible for providing macroeconomic analysis and commentary, non-standard macroeconomic modelling, and developing relationships with key central banks and monetary authorities. Silvia previously spent 10 years at Prologue Capital Ltd, latterly as a global economist responsible for the team’s macroeconomic view. She holds a Master of Science in Economic and Social Sciences, as well as a Bachelor in Economic and Social Sciences, from Bocconi University in Italy.